A pedestrian wearing a face mask looks at his smartphone as he passes in front of the New York Stock Exchange (NYSE) on Monday, July 20, 2020 in New York City.
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A Minnesota general contractor pleaded guilty Thursday to a plan to hijack a defunct shell company in the over-the-counter market and to pump and dump its shares to unconscious investors.
Mark Miller is a serious scam involving fraudulent acquisitions of at least four listed companies between 2017 and 2019, which did not have effective business and for some time failed to submit to the required regulatory agencies. to be guilty of another person. ..
His co-defendant, Christopher James Redicran, pleaded guilty last week to the same conspiracy to commit securities fraud in US District Court in Minneapolis.
Miller pleaded guilty to the same crime in court. After a judicial deal with a federal prosecutor, like Razkaran, he would file 14 other criminal proceedings, which were later sentenced to prison, when he was dismissed.
The mirror is free from bondage. However, Radicalan, who lives in Queens, New York, has been placed in danger of flying because of his ties to the country of Guyana.
The third defendant, Said Javerian, Minnesota, has pleaded not guilty and is awaiting trial.
Miller agreed to forfeit the $38,000 in fraud proceeds as part of his plea.
Federal Judgment Guidelines suggest he be sentenced to between 30 and 37 months in prison and a fine of $10,000 to $100,000.
Judge David Dotty, however, ruled Miller’s actual sentence in the verdict.
At his plea bargaining hearing, Miller gave a brief reply acknowledging his understanding of the prosecutor’s detailed plea bargaining and his explanation of criminal activity.
“I’m guilty of the summary you went through,” Miller told the prosecutor.
The three defendants were indicted in June with plans to use the resignations of the others to fund four shell companies (Digitality, Encompass Holdings, Bell Buckle Holdings, and Utility Aerospace Industries). I did
According to prosecutors, Miller and Javerian, and unidentified individuals linked to Miller, have become the nominal CEO and chairman of the targeted company.
Miller uses the Securities and Exchange Commission’s edgar public filing systems and fake press releases to claim new business opportunities for these companies, even though they didn’t actually have significant business or revenue. He admitted that he had raised the share price.
Miller bought millions of shares of the company by himself and his co-defendants, often for less than a penny per share, and sold many times the amount paid in the over-the-counter market. I accepted it. They. Prosecutors said all three had benefited from the scheme for hundreds of thousands of dollars.
When charged, Miller was involved in an attempt to take control of New World Gold Corporation, a Florida penny stock company. Mirror presented by the SEC.
Less than two weeks after CNBC reported his participation in New World Gold, Miller voluntarily withdrew his proceedings in Florida as part of his efforts to acquire New World Gold.
After being charged with criminal charges this summer, Miller resigned as a member of the city council in Breezy Point, Minnesota.